Who Said Life was Fair?
Long Term Gold Price Chart
I update this long term gold chart once a year. The first 100 years worth of data were provided by the good people at the USGS. I was pretty excited to get a data point above that pesky red downtrend line. I'll update it on January 1, 2005. The price of gold looks fine to me. Prices of $2000-$5000 US look possible down the road.
John Embry of Sprott Asset Management has just published a manifesto on the manipulation of the gold price:
Not Free, Not Fair: The Long-Term Manipulation of the Gold Price.
Blaming outside forces for a clever speculation gone awry won't help anyone make money. Nobody puts a gun to your head when you walk into a casino or buy a junior gold stock.
There are over 4000 Canadian stock listings and over 5000 mutual funds that Canadians can invest in. We are all free to choose and free to lose.
Disclosure-I own warrants in gold mining companies that expire in 2008.
Courtesy the Big Picture Speculator